Michael F. Leggio III - 01 Mar 2024 Form 4 Insider Report for ADAMS RESOURCES & ENERGY, INC.

Role: Chief Operating Officer
Signature: /s/ Michael F. Leggio III
Issuer symbol: N/A
Transactions as of: 01 Mar 2024
Net transactions value: -$10,661
Form type: 4
Filing time: 04 Mar 2024, 18:06:45 UTC
Previous filing: 14 Dec 2023
Next filing: 06 Jun 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AE	Common stock	Options Exercise	$0	+240	+10%	$0.000000	2,641	01 Mar 2024	Direct
transaction	AE	Common stock	Options Exercise	$0	+229	+8.7%	$0.000000	2,870	01 Mar 2024	Direct
transaction	AE	Common stock	Options Exercise	$0	+269	+9.4%	$0.000000	3,139	01 Mar 2024	Direct
transaction	AE	Common stock	Options Exercise	$0	+453	+14%	$0.000000	3,592	01 Mar 2024	Direct
transaction	AE	Common stock	Tax liability	$10,661	-355	-9.9%	$30.03	3,237	01 Mar 2024	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	AE	Restricted stock units	Options Exercise	$0	-240	-16%	$0.000000	1,266	01 Mar 2024	Common stock	240		Direct	F1, F2
transaction	AE	Restricted stock units	Options Exercise	$0	-229	-18%	$0.000000	1,037	01 Mar 2024	Common stock	229		Direct	F2, F3
transaction	AE	Restricted stock units	Options Exercise	$0	-269	-26%	$0.000000	768	01 Mar 2024	Common stock	269		Direct	F2, F4
transaction	AE	Performance share units	Options Exercise	$0	-453	-39%	$0.000000	695	01 Mar 2024	Common stock	453		Direct	F5
transaction	AE	Restricted stock units	Award	$0	+2,404	+313%	$0.000000	3,172	01 Mar 2024	Common stock	2,404		Direct	F2, F6, F7
transaction	AE	Performance share units	Award	$0	+2,404	+346%	$0.000000	3,099	01 Mar 2024	Common stock	2,404		Direct	F8, F9

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The reporting person was previously granted 718 restricted stock units of Adams Resources & Energy, Inc. (AE) vesting in three equal installments beginning March 1, 2022. Each restricted stock unit represents a contingent right to receive one share of AE common stock upon vesting.
F2	Total includes restricted stock units previously awarded that have different vesting and expiration dates, as reported.
F3	The reporting person was previously granted 687 restricted stock units of Adams Resources & Energy, Inc. (AE) vesting in three equal installments beginning March 1, 2023. Each restricted stock unit represents a contingent right to receive one share of AE common stock upon vesting.
F4	The reporting person was previously granted 808 restricted stock units of Adams Resources & Energy, Inc. (AE) vesting in three equal installments beginning March 1, 2024. Each restricted stock unit represents a contingent right to receive one share of AE common stock upon vesting.
F5	The reporting person was previously granted performance share units of AE vesting on March 1, 2024.
F6	The reporting person received a grant of 2,404 restricted stock units of Adams Resources & Energy, Inc. (AE) on March 1, 2024. Each restricted stock unit represents a contingent right to receive one share of AE common stock upon vesting.
F7	The restricted stock units will vest (i.e., the restrictions will lapse) in three equal annual installments beginning on March 1, 2025, provided the reporting person remains in continuing active service on the vesting date (subject to accelerated vesting in some circumstances).
F8	The reporting person received a grant of 2,404 performance share units of Adams Resources & Energy, Inc. on March 1, 2024. The performance share units will vest on March 1, 2027, provided the reporting person remains in continuing active service on the vesting date (subject to accelerated vesting in certain circumstances), and subject to the attainment of certain performance criteria as specified in the award agreement.
F9	Total includes 686 performance share units previously awarded on March 1, 2022, as reported. An additional 9 performance share units are the result of the achievement of applicable performance conditions during the 2022 period. 808 performance share units awarded on March 1, 2023 will not vest on the basis of the applicable performance conditions set for the in the award agreement and are no longer held by the reporting person.